Rology, an Egyptian healthtech company, has completed a pre-Series A financing. Egypt Ventures, Sequence Ventures, Waseel, Tawaref, and Viktoria Ventures joined Egypt Ventures, Sequence Ventures, Waseel, Tawaref, and Viktoria Ventures participated in the round. HIM Angels, AAIC, DAI, and Cubit Ventures were among the earlier investors in the round.
The platform was released in 2017 to address a dearth of radiologists and significant delays in medical reports by improving scan picture quality and matching patients from hospitals and radiology centers based on sub-specialization and experience. It produces reports in 12 hours for cold cases and 60 minutes for emergency situations.
The Rology platform is geared up to provide hospitals with novel solutions in a variety of subspecialties, including breast imaging, cardiology, chest radiology, gastroenterology (GI) radiology, musculoskeletal radiology, and much more.
When it comes to the company’s goals, According to Amr AboDraiaa, co-founder and CEO of Rology, the firm had the obligation to enhance Teleradiology as a true solution for diagnostic issues to save lives following the pandemic age and the higher population growth in radiology demand globally and in the MEA area.
Rology’s position grew in importance as a means of assisting patients in receiving a correct diagnosis rapidly. As a result, the firm is expanding its platform to serve a wide number of hospitals and radiology centers in both urban and rural locations with little setup time and to increase radiologists’ productivity with AI radiology tools.
Including a great team at the reins, a much-needed solution, solid unit economics, massive adoption possibility, and great influence, feh Saleh, Founding Partner of Cubit Ventures, added that they are very enthusiastic to have played a role and are very thrilled to assist Rology’s quest to save lives across the Middle East and Africa.
According to Ahmed Gomaa, Chairman and CEO of Egypt Ventures, telemedicine is an amazing new sector that is being accepted worldwide and has seen fast expansion since the outbreak of COVID-19. They believe Rology is positioned to dominate the teleradiology segment of telemedicine in the MENA area, led by a youthful and dedicated staff.
The cash will be used to support Rology’s geographical expansion across the Middle East and Africa.
Techbuild’s Take
Every sector has benefited from technological advancements, and the medical field is no exception.
The healthcare business has grown tremendously over the years as a result of the simplicity and convenience provided by today’s technologies.
Startups have come up with innovative ways to improve the sector, and Rology is one of them. It is a platform that improves scan picture quality and matches patients from hospitals and radiology centers based on sub-specialization and experience, addressing the shortage of radiologists and significant delays in medical reports.
The possibility to remotely scan photos can aid in more equitably distributing interpretation work among sites and organizations with diverse volumes. This can lead to more flexible work schedules for individual radiologists.
Telemedicine not only connects patients and medical providers but also allows healthcare practitioners to consult with other doctors or specialists in the diagnosis or ongoing treatment without needing to leave their offices.
Telemedicine’s primary purpose was to provide health-care services to patients in remote or rural locations, addressing issues such as a lack of medical experts and medical centers.
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